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"We get paid to write good disclosure," Mr. Auerbach said.
There is a ton of good disclosure out there that nobody is getting excited about".
"If they don't put it in a footnote, that is in my opinion not good disclosure".
"If you have good disclosure, competitive markets and an independent board bargaining hard, that's the way to bring fees down".
Mr Pitt wants to integrate the SEC's disclosure regime with the system for raising capital, to make it easier for firms with good disclosure to raise fresh capital in the public markets.As for the quality of investment advice, America's different securities laws treat types of professional advisers differently, even when they offer products and strategies that are more or less the same.
Non-transparent countries received a share that was 25 percentage points lower than the same benchmark (see chart 9).The same study found that herding among investors was substantially lower for countries with good disclosure than for the rest presumably because greater transparency gives investors something more substantial to go on than what other investors are doing.
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Shareholders benefit from good disclosures because they can better assess what value to place on a bank's business.
One reason for that may have been that the Government Accounting Standards Board — the public sector equivalent of FASB — has done much less to force good disclosures, or comparable ones.
IT operations-focused startup Moogsoft is a good example (full disclosure: I am an angel investor).
This does not mean, however, that recipient institutions should use federal money -- our money -- to advance their narrow political agendas, a giant portion of which may conflict with public interest, to say nothing of the common good, without full disclosure.
Is full disclosure a good idea in this situation?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com